United Kingdom GDP Annual Growth Rate

The Gross Domestic Product (GDP) in the United Kingdom expanded 3.10 percent in the second quarter of 2014 over the same quarter of the previous year. GDP Annual Growth Rate in the United Kingdom averaged 2.53 Percent from 1956 until 2014, reaching an all time high of 10.20 Percent in the first quarter of 1973 and a record low of -6.80 Percent in the first quarter of 2009. GDP Annual Growth Rate in the United Kingdom is reported by the Office for National Statistics.

   
 
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United Kingdom GDP Annual Growth Rate


Actual Previous Highest Lowest Dates Unit Frequency
3.10 3.00 10.20 -6.80 1956 - 2014 Percent Quarterly
From 1993 to 2007 the United Kingdom has reported an average annual rate of growth of 3.3 percent. Yet, since the recession in 2008 and 2009 the growth has been sluggish and in the last three years averaged meager 0.9 percent. This page provides - United Kingdom GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.


UK GDP Growth Matches Estimates in Q2


The UK economy advanced 3.1 percent year-on-year in the second quarter of 2014, accelerating from a 3 percent expansion in the previous quarter, according to preliminary estimates. It is the highest growth rate since the last three months of 2007.

Between Q2 2013 and Q2 2014, construction is estimated to have increased 4.2 percent, posting its fifth consecutive quarter on a year ago increase, beginning in Q2 2013 and coming after five consecutive quarters of year on year negative growth.

Business services and finance output increased by 4.2 percent, industrial production rose 2.2 percent, transport, storage and communication increased 2.2 percent and agriculture output advanced 1.4 percent. 

On a quarter-on-quarter basis, the economy advanced 0.8 percent in the three months to June, the same rate recorded in the previous period.

ONS | Joana Taborda | joana.taborda@tradingeconomics.com
7/25/2014 10:25:20 AM


Recent Releases

UK GDP Annual Growth Revised to 3% in Q1
The UK economy expanded 3 percent year-on-year in the first quarter of 2014, slightly down from a preliminary 3.1 percent estimate, as government spending and investment grew less than anticipated. Published on 2014-06-27

UK GDP Advances 3.1% YoY in Q1
The UK economy expanded 3.1 percent year-on-year in the first quarter of 2014, in line with expectations and unchanged from the preliminary estimate. Published on 2014-05-22


Calendar GMT Country Event Reference Actual Previous Consensus Forecast
2014-04-29 09:30 AM United Kingdom
GDP Growth Rate YoY Prel
Q1 2014 3.1% 2.7% 3.2% 1.87%
2014-05-22 09:30 AM United Kingdom
GDP Growth Rate YoY - 2 Est
Q1 2014 3.1% 2.7% 3.1% 3.1%
2014-06-27 09:30 AM United Kingdom
GDP Growth Rate YoY Final
Q1 2014 3.0% 2.7% 3.1% 3.1%
2014-07-25 09:30 AM United Kingdom
GDP Growth Rate YoY Prel
Q2 2014 3.1% 3.0% 3.1% 3.1%
2014-08-29 09:30 AM United Kingdom
GDP Growth Rate YoY - 2 Est
Q2 2014 3.0% 3.1% 3.1%


GDP Last Previous Highest Lowest Unit
GDP 2522.26 2461.77 2857.08 72.33 USD Billion [+]
GDP Growth Rate 0.80 0.80 5.30 -2.50 Percent [+]
GDP Annual Growth Rate 3.10 3.00 10.20 -6.80 Percent [+]
GDP Constant Prices 393512.00 390389.00 393512.00 88041.00 GBP Million [+]
Gross National Product 408480.00 401631.00 409331.00 4776.00 GBP Million [+]
GDP per capita 37955.11 37569.79 40230.96 13478.93 USD [+]
Gross Fixed Capital Formation 56901.00 55896.00 70435.00 10182.00 GBP Million [+]
GDP per capita PPP 32722.52 32880.58 34605.04 17907.45 USD [+]





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